RANKED: Top 10 capital raisings – mine developers
Developing a mine requires capital intensive activities in and around a project site, and companies may be required to raise millions of dollars to take a project through construction and into operations.
Using data provided by Miningintelligence, MINING.COM listed the top ten mine developers that have raised significant amounts of capital since the beginning of the year (up to November 4, 2020).
To be considered a developer, a company must have a maximum of two operating mines and at least one project in the construction, commissioning, or feasibility stage or prefeasibility stage.
Among all miners that fit that description, Australia-based gold miner Resolute Mining secured the highest amount of capital so far with nearly $125.5 million in completed financings.
The second and third places are also occupied by two Australian firms — Panoramic Resources and Gascoyne Resources — with $61.36 million and $61.32 million raised respectively.
Altogether, the top 10 miners in terms of year-to-date funding raised a total of $414 million. Most of the capital was raised via either a private placement, a rights offering or — in the case of Premier Gold Mines and Uranium Energy — a public offering. The top 3 capital raisers used both private placement and rights offerings.